Midas (automotive service)

Midas International, LLC

Company type	Private (subsidiary)
Industry	Automotive service
Founded	April 1956 (1956-04)
Founder	Nate H. Sherman
Headquarters	Palm Beach Gardens, Florida , United States
Area served	Worldwide (13 countries)
Key people	Alan Feldman (appointed 2003)
Products	Brakes, routine maintenance, tires, exhaust systems, steering, suspension services
Number of employees	900
Parent	Mavis Tire Express Services (since 2025)

Midas International, LLC stands as a prominent American automotive service chain based in Palm Beach Gardens, Florida. The company manages more than 2,100 locations worldwide, including franchised, licensed, and company-operated centers across 13 countries. Nearly 1,300 of these outlets are situated within the United States and Canada. Midas offers specialized services in areas such as brakes, routine maintenance, tires, exhaust systems, steering, and suspension.

Within North America, Midas primarily operates through company-owned and franchised stores, whereas its international presence is maintained via licensed or franchised facilities. Additionally, the firm owns SpeeDee Oil & Auto Service, which encompasses over 150 sites throughout the U.S. In 2011, Midas reported revenues amounting to US$183.6 million and has consistently been featured among Entrepreneur magazine’s Franchise 500 list, ranking #150. The company’s growth strategy emphasizes expanding its global footprint through franchising and acquisitions to enhance its position in the automotive repair market.

Company History

Established in April 1956, Midas—an acronym for Muffler Installation Dealers' Association—was founded by Nate H. Sherman (1898–1980), who launched the initial store in Macon, Georgia. Within twelve months, the network grew to 100 outlets across 40 states and entered Canada by 1961. By 1965, the company extended its operations into the recreational vehicle industry. In 1967, George B. Sherman, son of Nate Sherman, assumed the presidency of Midas International Corporation headquartered in Chicago.

IC Industries/Whitman Corporation

By 1970, Midas experienced profit declines alongside leadership disputes that culminated in George Sherman stepping down. Simultaneously, a faction of Detroit-based franchisees broke away to establish Tuffy Service Centers and initiated an antitrust legal action against Midas. Following an unsuccessful proxy contest in 1971 for company control, Nate Sherman sold his majority interest to IC Industries. Subsequently, IC Industries appointed Ralph Weiger as president. Under Weiger’s leadership, the company prioritized international growth and servicing foreign automobiles, investing $2.5 million in a parts manufacturing facility near Chicago and inaugurating a substantial plant in Elkhart, Indiana dedicated to trailers and motor homes.

By 1976, Midas had expanded operations into eight countries; its recreational vehicle segment achieved $106 million in sales while earnings increased fivefold over two years. That year also marked the opening of the company’s 900th location. Broadening its service portfolio beyond mufflers, Midas introduced brake repair services in 1979. In 1981, it acquired a controlling interest in 1-2-3 Autoservice, thereby gaining management over more than 100 European outlets spanning Germany, Austria, Belgium, and the Netherlands.

After shedding unprofitable business units such as aluminum boat manufacturing and van conversions in 1982 to concentrate on core automotive services, Midas commanded a 26% share of the $1.3 billion U.S. exhaust repair market by 1983 with a network of approximately 1,300 stores nationwide.

IC Industries rebranded itself as Whitman Corporation in December 1988 but encountered financial difficulties during the early 1990s. To enhance operational focus and financial health, Whitman divested Pet Inc. in 1990 and later spun off subsidiaries including Midas International and Hussman refrigeration in 1997.

Independent operation

By 2003, Midas was encountering significant financial difficulties, marked by reduced sales and earnings, a declining share price, and dissatisfaction among franchisees. In January 2003, Alan Feldman was appointed to spearhead the company’s recovery efforts. The business discontinued its auto parts division by closing all 77 Parts Warehouse locations along with regional distribution hubs, transferring parts procurement to AutoZone in the United States and Uni-Select in Canada. Feldman also downsized company-run service centers from 111 to 73 and halved the combined headquarters and field workforce from 1,900 to 900 employees. Beginning in 2004, Midas reintroduced Bridgestone and Firestone tire sales at over 750 outlets, which helped restore profitability after two years of losses.

In 2005, Midas divested Huth, its pipe bending subsidiary established in 1968, and announced plans to shut down its muffler manufacturing facility located in Hartford, Wisconsin, signaling its exit from exhaust system production.

The year 2008 saw Midas expand by acquiring G.C. & K.B. Investments, Inc., thereby adding control over 181 franchised SpeeDee Auto Service Center locations throughout the United States and Mexico.

Acquisition by TBC

TBC Corporation purchased Midas in March 2012 for $310 million when the network comprised nearly 2,300 outlets globally. Following this acquisition, Midas experienced consistent growth in North American sales for 29 months straight through November 2015.

Emphasizing tire services more heavily, Midas partnered with Michelin in 2016 to supply tires at upwards of 1,000 franchised sites. In 2017, the SpeeDee brand was sold off to Grease Monkey as part of a strategic divestiture.

Sale to Mavis

In March 2025, TBC announced it would sell Midas—including its approximately 1,200 locations across the United States and Canada—to Mavis Tire Express Services. Despite the ownership change, Midas will maintain its identity as an independent brand.

Midas in Europe

Midas made its European debut in 1973 with a branch opening in Belgium, followed by rapid expansion into markets such as France, Spain, Portugal, Italy, and several other nations. Since 2004, the French firm Mobivia has owned the brand in Europe and has fostered growth primarily through franchising.

Legal issues

In 2009, a Midas franchisee based in California was sued over bait-and-switch practices that resulted in customers being charged up to $1,700 more than advertised low-cost services. After an investigation spanning four years, the dispute was resolved in January 2010 with a $1.8 million settlement and the franchisee surrendering ownership of their stores.

Advertising

Midas is widely recognized for its iconic Muffler Man fiberglass statues—large roadside figures commissioned during the 1960s and ’70s for gas stations and muffler retailers—with many still visible across America. One such figure located in New Jersey gained added fame by appearing in HBO’s The Sopranos opening credits.

The company has employed several memorable slogans to strengthen brand identity over the years:

• Nobody beats Midas. Nobody. (1977–1986)
• The Midas Way. The way it should be. (1987–1996)
• You should trust a Midas touch (1995–2000)
• Trust the Midas touch (2001–)
• Trust Midas (2006–2007)

Television commercials featured the fictional character "Midas Man," played by Ralph Peduto, whose tagline "Nobody beats Midas. Nobody." became a hallmark of the brand’s customer assurance. During the 1980s, Western film star Lee Van Cleef headlined a series of advertisements portraying a quick car repair expert, supported by appearances from other Western actors including John Phillip Law and George Kennedy, enhancing Midas’s cultural footprint.

International Midas Dealers Association

The International Midas Dealers Association (IMDA) operates as a nonprofit entity representing the interests of Midas franchisees, with a primary focus on promoting dealer profitability and enhancing operational standards. Established in 1970 under the name National Muffler Dealers Association by a group of eight dealers, the organization has since broadened its reach both across the United States and internationally. It underwent two name changes to better represent its expanding membership, which has included Canadian dealers since 1994.

The IMDA is overseen by a Board of Directors consisting of twelve members. This governing body plays a crucial role in advancing dealer priorities within the broader corporate framework and strengthening competitive positioning through cooperative efforts among dealers.